NuScale Power Stock Drops 38% Amid Reactor Deployment Delays

NuScale Power Corporation is attempting to secure commercial sales for its small modular reactor (SMR) technology, maintaining a unique position as the only U.S. company with a design certified by the Nuclear Regulatory Commission. Despite this regulatory advantage, NuScale Power Corporation has not yet built a nuclear reactor, and its stock has declined 38% in 2026, following a broader value drop of approximately 85% since July 2025.

The company reports negligible revenue, totaling approximately $18.7 million over the trailing 12 months, and a negative free cash flow of $750 million. These financial struggles persist as the company pursues large-scale deployments. NuScale is partnering with ENTRA1 to develop power plants, including a potential 6-gigawatt project involving 72 Power Modules across the Tennessee Valley Authority's seven-state service territory.

International efforts include a planned 462-megawatt plant in Doiceşti, Romania, with the first module targeted for operation in 2033. However, projects in the United States, Poland, and Romania are not expected to generate revenue until at least 2030. This timeline likely misses the primary build-out phase of AI data centers, which currently rely on natural gas for power.